Head of Risk

Job Description

Company Introduction

Job Responsibilities and Duties

• Develop, maintain, and continuously enhance the Enterprise Risk Management Framework;
• Ensure the risk framework remains aligned with MFSA Financial Institution Rules, EBA Guidelines, and internal governance requirements;
• Lead the development, implementation, and periodic review of the Risk Appetite Framework;
• Maintain and update the Risk Register, ensuring risks are appropriately identified, assessed, and monitored;
• Oversee risk assessments across key risk categories, including Operational Risk, Market Risk, Liquidity Risk, ICT & Cybersecurity Risk, Regulatory Risk, Outsourcing Risk, Strategic Risk, and Reputational Risk;
• Monitor Key Risk Indicators (KRIs) and escalate breaches to the Board and relevant Committees where required;
• Lead stress testing exercises, scenario analysis, and reverse stress testing activities;
• Prepare and present risk reports to the Board and relevant Committees;
• Advise the Board on emerging risks, regulatory developments, and strategic risk considerations;
• Provide independent challenge and oversight to first-line management;
• Maintain and review risk-related policies, including Operational Risk, Outsourcing, ICT Risk, and Business Continuity Planning policies;
• Monitor the implementation and effectiveness of internal controls across the organisation;
• Oversee risk assessments relating to new products, services, and outsourcing arrangements;
• Manage the incident management framework, ensuring incidents are recorded, investigated, and addressed appropriately;
• Monitor operational losses, near misses, and control deficiencies;
• Ensure root-cause analyses are conducted and follow-up actions are completed;
• Promote a strong risk awareness culture throughout the organisation;
• Deliver risk management training and awareness sessions to employees and management.

Experience

• Degree in Finance, Risk, Economics, or a related field;
• Professional certifications such as FRM, PRM, ICA Risk, or equivalent will be considered an asset;
• Minimum of 5 years’ experience within a risk management function, ideally within a regulated financial institution;
• Experience presenting to Boards and interacting with regulatory authorities;
• Experience leading a risk function or team;
• Must be eligible for MFSA approval as a Key Function Holder.

Personal Skills

• Excellent communication and report-writing skills;
• High ethical standards and independence;
• Strong analytical skills;
• Strong attention to detail and organisational abilities.